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Judge Lifts a Sanction on Armstrong

By

Chad Bray

Updated April 28, 2007 12:01 a.m. ET

NEW YORK -- A federal judge on Friday lifted a civil contempt sanction that has kept former investment adviser Martin A. Armstrong jailed for more than seven years, so he can begin serving his prison sentence in his criminal case.

At a hearing in federal court in Manhattan, U.S. District Judge P. Kevin Castel found that further incarceration wouldn't compel Mr. Armstrong to turn over the disputed property in a civil matter related to Princeton Economics International. However, the judge kept in place the finding that Mr. Armstrong...